Real estate blog entries tagged with olney by Joe Buffington, GRI, CDPE (RE/MAX Realty Centre)

Home : Blogs : Joe Buffington : Real Estate in the Buff(ington Building) : Tag "olney"

olney: Whats going on with all the building in the Olney area? - 08/16/11 08:26 AM

Buzzuto is building a 79 unit Elderly and Memory Care facility. Some of you may remember Sunrise Assisted Living came with a similar proposal about 3 years ago. Since this facility is using the Sunrise plans, they did not need to go through the public feedback process again. There is a similar facility proposed just north of the Fire Department on Rt. 97. (you can see some of the details on my twitter account @joebuffington2)
Also Stanley Martin is building 2 new projects in the Olney area. The Orchard in Sandy Spring (34 home sites) and Rock Creek Preserve (117 single … (1 comments)

olney: Olney Area Supply and Demand Chart April 2011 - 05/03/11 03:37 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for April 2011. The Green Bars represent the percentage of sold homes in the available inventory this month. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
Just like the Montgomery County numbers the absorption rates are a bit misleading. Alot of the available inventory is short sale and foreclosure. Many buyers can't and won't buy these properties. Please feel free to contact one of our great agents for any market information www.realty-md.com
Again … (0 comments)

olney: Olney Area Supply and Demand Chart March 2011 - 04/08/11 04:17 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for March 2011. The Green Bars represent the percentage of sold homes in the available inventory this month. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
The March 2011 rate is almost identical to the Feb 2011 rate. The inventory of available homes has begun to grow. Buyers who had been looking might want to use this weekend to take a look at the new, reduced and improved selection of homes in Olney. … (0 comments)

olney: Olney Area Supply and Demand Chart February 2011 - 03/10/11 02:33 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for February 2011. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
Just like the statistics for Montgomery County, the Olney numbers for February for the last 3 years looks almost identitical to the January numbers for the last 3 years.
Again I feel that the 2011 numbers will look very similar to last year. As we recover (and the … (0 comments)

olney: Montgomery County Supply and Demand Charts February 2011 - 03/10/11 02:28 AM

Here is the Montgomery County, Maryland supply and demand chart for February 2011. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month
It was kind of funny to see the numbers for January 11 vs. Jan 10 vs. Jan 09 look almost identical to the February numbers for the same years. Again I think 2011 is going to look very similar to 2010. We will have some ups and down, but a steady market is a … (0 comments)

olney: Olney Area Supply and Demand Chart January 2011 - 02/24/11 05:38 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for January 2011. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
Another steady month of growth in Olney. Things are really up for an active Spring market. Many savvy sellers and buyers are already seeing market activity increase in what should be the dead of winter. We anticipate 2011 to be very much like 2010 in the real estate … (0 comments)

olney: Olney Area Supply and Demand Chart December 2010 - 01/17/11 08:28 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for December 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
December was a bounce back month as expected. 16.6% is a strong number for December. This bodes well for a strong spring market.
Absorption Rates:
December 2010 16.1% absorption rate
December 2009 11% absorption rate
December 2008 11.2% absorption rate

… (0 comments)

olney: Olney Area Supply and Demand Chart November 2010 - 12/17/10 06:12 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for November 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
Yikes! That is a serious drop from 09 to 10. There are reasons but this drop is a bit extreme.
In the Metro DC area the real estate market slows up a tad before a major election like 2010's. Also the Bank of America foreclosure fiasco has created … (0 comments)

olney: Olney Area Supply and Demand Chart October 2010 - 11/10/10 08:02 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for October 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
In the Metro DC area the real estate market slows up a tad before a major election like 2010's. Also the Bank of America foreclosure fiasco has created some media drama that was not good for any US industry. Furthermore, the rest of the fourth quarter will probably lag behind last … (0 comments)

olney: Olney Area Supply and Demand Chart September 2010 - 10/22/10 09:17 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for June 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
For the first time in a long time the absorption rate in 10 dropped below the 09 numbers. Lets keep an eye of the market to see if this trend continues.
Absorption Rates:
September 2010 15.1% absorption rate
September 2009 21.4% absorption rate
September 2008 10.4% absorption rate

… (0 comments)

olney: Olney Supply and Demand Chart August 2010 - 09/23/10 05:42 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for June 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
We had the same number of homes on the market (196) in Aug 2010 and Aug 2009. However the number of sold homes in Aug 2010 was 40 and only 26 in Aug 2009. This is a good trend for the Olney real estate market.
I feel strongly that … (1 comments)

olney: Olney Area Supply and Demand Chart June 2010 - 07/22/10 05:30 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for June 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
This is the first time in a long time that the absorption rate has cracked 25%. Great news. We seem to have the right amount of inventory (homes) and interest (buyers).
I feel strongly that as long as the interest rates stay low we will have a steady … (0 comments)

olney: Olney Area Supply and Demand Chart May 2010 - 06/21/10 10:25 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for May 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
Another strong month of absorption rate increases. Here is how it works. Assume there were 100 homes on the market in Olney on May1. On May 31, 25 of those home would have sold.
The absorption rates have climbed month after month. However, one thing you will notice is that the absorption rates have … (0 comments)

olney: Olney Area Supply and Demand Chart April 2010 - 05/21/10 09:37 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for April 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
Another strong month of absorption rate increases. Here is how it works. Assume there were 100 homes on the market in Olney on April 1. On April 30, 15 of those home would have sold.
"No credit, now what happens??" Well, 2 weeks after the credits went away, our office was still averaging a contract/day. … (0 comments)

olney: Olney Area Supply and Demand Chart March 2010 - 04/21/10 12:59 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for February 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
Another strong month of absorption rate increases. Here is how it works. Assume there were 100 homes on the market in Olney on March 1. On March 30, 14 of those home would have sold.
Some sellers I have spoken to are concerned about the tax credits going away. Fear not...(as long … (2 comments)

olney: Olney Area Supply and Demand Chart February 2010 - 03/05/10 03:46 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for February 2010. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
February of 2010 is double that of Feb 2009. Whats gives??? The inventory levels are low and the demand is steady. I am super optimistic, but don't get me wrong. If your home doesn't show well, is overpriced, and isn't presented to market place correctly, the likelyhood it will sell is slim.
… (0 comments)

olney: Olney Area Supply and Demand Chart December 2009 - 01/05/10 02:23 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for December 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
December of 2009 had a lower than average absorption rate compared to previous months in 2009. This isn't a shock considering the time of the year and the available inventory. We did expect the absorption rate to be a tad bit higher than Dec 08 (0.3%), but February should be one of … (0 comments)

olney: Olney Area Supply and Demand Chart November 2009 - 12/11/09 01:31 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for November 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
November of 2009 was another indicator that the Olney real estate market is improving and we are not headed back to the insane market of 2002-2005 (thank goodness). November of 08 was one of the worst months in the real estate industry in recent history. The improvement over the November 2007 … (0 comments)

olney: Olney Area Supply and Demand Chart October 2009 - 11/03/09 03:15 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for October 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
October of 2009 was another improving month over this last year and 2 years ago. Are we out of the woods? Not yet. Experts predict that there are still more foreclosures and short sales until 2012. However that doesn't necessarily mean that we will see a decline in property values across the board. … (2 comments)

olney: Olney Area Supply and Demand Chart August 2009 - 10/01/09 01:10 AM

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for August 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
WOW. August of 2009 was a complete anomaly from previous Augusts. Usually the real estate market in Olney goes quiet during this period because of July/August vacations. This year was an exception. If you were considering selling, now might be the right time to call a professional. The $8000 … (0 comments)

Related Links: